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Monetary Gold Review
4.6 Overall Rating
Customer Care
Pricing
Reliability
Ease of Purchase
Bottom Line
Monetary Gold cuts out the middleman to pass savings on to its clients. Their dedicated customer service agents will help you select the precious metals or self-directed IRA solution that matches your investment decisions and financial goals.
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About Monetary Gold
Monetary Gold differs from many other gold IRA companies by operating as a direct dealer, buying precious metals straight from the source. Because Monetary Gold eliminates many of the intermediaries, clients pay less for their gold and silver. The company also handles transactions for non-retirement investments and collectible coins, and Monetary Gold offers competitively priced insured shipping.
Many precious metals dealers act as intermediaries, purchasing from wholesalers or distributors and then reselling to investors. These companies help you choose the right gold and other metals for your needs and facilitate both purchase and sale transactions. Monetary Gold is different in that it acquires precious metals directly from trusted sources and passes the cost savings on to clients.
Monetary Gold helps people set up gold IRAs, buy physical gold and silver, or add collectible gold coins to their portfolios. Their team also helps with gold IRA rollovers or starting new retirement accounts.
Pros
- Works directly with gold and silver suppliers
- Passes savings straight to customers
- 100 years of combined experience in the precious metals investing industry
- Highly-rated customer service
Cons
- Prices not listed online; must call for a quote
Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
Monetary Gold’s Services
Founded in 2000, Monetary Gold helps people across the U.S. buy and sell gold and silver. They help investors diversify their retirement savings by adding precious metals to their portfolios. Unlike most gold IRA companies, Monetary Gold buys directly from the seller, which helps keep costs lower.
Monetary Gold currently sells a wide variety of gold and silver coins and plans to add platinum and palladium coins soon. The site mostly sells coins, but they can also help you buy gold bullion. Their experienced trained representatives assist clients in deciding which coins or bars best fit their investment goals or retirement strategy.
How to Open a Gold IRA with Monetary Gold
Opening a gold IRA with Monetary Gold is a straightforward process that involves only three main steps. Before you get started with opening an account, discuss storage and other fees with an IRA representative. You must keep gold and silver held in an IRA investment in a secure storage facility. Monetary Gold collaborates with a reputable and trusted depository for secure storage.
- Fill out an application: An IRA specialist guides you through everything for free, and setup usually takes two or three days.
- Fund your account: You can transfer money from an existing IRA or 401(k), or send a wire or check.
- Choose your metals: Your IRA specialist helps you pick IRS-approved metals, then arranges for secure storage at a trusted depository.
Once your precious metals arrive at the vault, they’re inspected, insured, and stored safely under your name.
Precious Metals from Monetary Gold
Monetary Gold sells three main types of precious metals: bullion, semi-numismatic, and certified coins, each with different benefits depending on what you’re after
Numismatic metals or collectible coins are worth more than just their metal content because of rarity and condition.
| Type | Features |
|---|---|
| Bullion | – Part numismatic and bullion – Valued between the lowest value bullion and premium certified-graded coins – Best for capitalizing on the precious metals bull market – No longer minted, resistant to downward trends |
| Semi-Numismatics | – Part numismatic and bullion – Valued between the lowest value bullion and premium certified-graded coins – Best for capitalizing on the precious metals bull market – No longer minted, resistant to downward trends |
| Certified-Graded Coins | – High collector premiums and valued above spot price – Best for collectors – Historically outperforms bullion in a downward market |
Monetary Gold IRA Costs
Monetary Gold doesn’t post exact prices online since gold investment prices change daily. The cost of your transaction will vary with the fluctuating price of gold. Monetary Gold covers up to five years of custodial fees for all qualified clients.
- They charge a $30 delivery fee for insured shipping if you choose to take physical delivery (shipping is secure through FedEx and USPS). We never recommend storing precious metals in your home for several reasons.
- Storage at Delaware Depository costs about $100 per year for up to $100,000 worth of metals.
- You’ll need to invest at least $5,000 to $10,000 to open an account, depending on your IRA custodian.
To give an example of gold IRA custodial fees, Gold Star Trust charges a one-time $50 fee and $1 per $1,000 annual maintenance fee ($75 minimum).
How to Buy Precious Metals from Monetary Gold
To buy gold or silver, you can call Monetary Gold and talk to a representative. They’ll help you place an order and arrange secure delivery or storage.
To start a gold or silver IRA, fill out the quick form on their website. A representative will follow up within 10 or 15 minutes to finish the setup over the phone. If you have questions before setting up an account, use the contact form on the website or call to get answers. There’s also a live chat feature if you want quick answers before committing.
Monetary Gold Complaints
Monetary Gold has an A+ rating with the Better Business Bureau (BBB). Customer reviews on the BBB site average 5 out of 5 stars, highlighting a high level of customer satisfaction and service.
ConsumerAffairs gives the company a 4.9-star rating with over 200 reviews. Reviewers appreciated all the information they received and the representatives’ patience. TrustLink has positive reviews and also awards the company 5 out of 5 stars, and Trustpilot gives them a 4.5-star rating.
Monetary Gold FAQs
Yes, you can fund a Monetary Gold IRA by transferring money from an existing IRA, Roth IRA, SEP IRA, or 401(k). You can also do a tax-free, penalty-free direct rollover from a 401(k) or 403(b).
Some custodians provide a range of investment options and let you hold stocks, bonds, exchange-traded funds, annuities, and other investments in a precious metals IRA account. Others only work with precious metals IRAs. Monetary Gold can help you pick one that fits what you want.
You don’t need a financial advisor to open a gold IRA, but you can always talk to one first if you want extra guidance for your financial future. However, Monetary Gold specialists are qualified to set up the account and help you choose IRS-approved gold and silver.
Monetary Gold works with several trusted custodians like Strata Trust, Gold Star Trust Company, Sterling Trust, New Direction IRA, and Entrust. These companies are likely to have varying fees and services you can compare.
Your IRA custodian sends you regular account statements and gives you online access to track your investments anytime. You can monitor your account online, too.
Conclusion
If you’re looking to buy gold or silver or start a gold IRA, Monetary Gold is worth checking out. The company makes the process simple, keeps costs low, and has a strong reputation for personal service. Because the middleman gets cut from precious metals transactions, you will likely buy gold for less from Monetary Gold. Monetary Gold’s customer service is unquestionably a priority, given the numerous high marks it receives in online reviews.